TC006431)
22202987647 & 2025 Form NAR1 23402394545)
16-11-01963 & 21-08-03044), and registered office records at 12/F, Emperor Group Centre, 288 Hennessy Road, Wan Chai.
Founded in 2015 by Robert Chen (Chen Yu) and backed by Fidelity International, CICC Capital, CITIC Securities, and IDG Capital, PingPong is a global cross-border payments unicorn serving hundreds of thousands of e-commerce sellers and B2B exporters. When corporate compliance teams audit PingPong's Hong Kong presence, they discover a sophisticated five-entity corporate cluster and dual Money Service Operator (MSO) licensing structure co-located at Room 1206–1207, 12/F, Emperor Group Centre, 288 Hennessy Road, Wan Chai, Hong Kong[1][2]:
- Ping Pong Global Holdings Limited (CR No.
2397558, BRN66368496, inc. 30 Jun 2016): Holds HK Customs MSO Licence #1 (16-11-01963, Room B, Unit 1206-7) as the primary holding and clearing entity; - PingPong Global Technology Limited (CR No.
2803175, BRN70453803, inc. 12 Mar 2019): Holds HK Customs MSO Licence #2 (21-08-03044, Room D, Unit 1206-1207) for segregated B2B/API clearing channels; - PINGPONG INTELLIGENCE LIMITED (Chinese Statutory Name:
乒乓智匯有限公司, CR No.2794888, BRN70370176): Co-located FX risk intelligence and digital merchant services vehicle; - HongHu Commercial Factoring Limited (Chinese Statutory Name:
鴻鵠商業保理有限公司, CR No.2808284, BRN70505381): Dedicated commercial factoring and e-commerce receivables financing subsidiary; - PingPong Information Technology Limited (CR No.
3817466, BRN80748406): Co-located IT infrastructure and software R&D subsidiary.
Part I: Why PingPong Operates a 5-Entity Cluster & Dual-MSO Licences at Emperor Group Centre
Auditing Room 1206–1207, 12/F, Emperor Group Centre, 288 Hennessy Road, Wan Chai via 86hc.com Building Intelligence reveals how PingPong segregates its regulatory licences, correspondent bank clearing pools, and supply chain factoring assets across five distinct legal entities[1][2]:
| Statutory Entity Name & Link | CR No. | BRN (UBI) | Inc. Date | HK Customs MSO & Unit | Operational & Product Role |
|---|---|---|---|---|---|
| Ping Pong Global Holdings Limited (English Name Only · Live) | 2397558 | 66368496UBI: SH000728022 | 2016-06-30 | MSO: 16-11-01963Room B, Unit 1206-7 | Primary HK holding & MSO #1 entity for global marketplace collection, multi-currency FX, and Virtual Corporate Card issuing. |
| PingPong Global Technology Limited (English Name Only · Live) | 2803175 | 70453803 | 2019-03-12 | MSO: 21-08-03044Room D, Unit 1206-1207 | Sibling MSO #2 entity providing ring-fenced clearing for B2B trade (PingPong Current/Fumao) and enterprise API payouts. |
| PINGPONG INTELLIGENCE LIMITED ( 乒乓智匯有限公司) | 2794888 | 70370176 | 2019-02-14 | Co-located at Unit 1206-1207 | Algorithmic FX management and cross-border digital commerce services. |
| HongHu Commercial Factoring Limited ( 鴻鵠商業保理有限公司) | 2808284 | 70505381 | 2019-03-25 | Co-located at Unit 1206-1207 | Commercial factoring & early marketplace payout financing vehicle, isolated from MSO client money pools. |
| PingPong Information Technology Limited | 3817466 | 80748406 | Active Subsidiary | Co-located at Unit 1206-1207 | Payment technology R&D and enterprise ERP integration vehicle. |
Part II: January 2026 Form M1 Charge Forensics (Barcode 22202987647) & Verified ICRIS Filings
On 26 January 2026, Ping Pong Global Holdings Limited (CR 2397558) filed Particulars of Mortgage or Charge (Form M1, Barcode: 22202987647, 2 pages) alongside a 13-page Charge Instrument (Barcode: 22202987648) at the Hong Kong Companies Registry[1]. Under Part 8 of the Companies Ordinance (Cap. 622), international payment and card-issuing institutions register Form M1 charges over designated settlement reserve accounts when expanding credit/settlement lines with global card networks (Visa/Mastercard) and tier-1 clearing banks (Citibank, J.P. Morgan) (see our Form M1/M2 Charge Registration Guide):
| Filing Date | HK Licensed Entity | Form Code | Official Statutory Document & Audit Significance | ICRIS Barcode | Inspect |
|---|---|---|---|---|---|
| 2026-01-26 | Ping Pong Global HoldingsCR: 2397558 (MSO 1) | M1 | Particulars of Mortgage or Charge (Form M1) & 13p Instrument (22202987648)Jan 2026 credit/settlement security registration under Cap. 622 Part 8 | 22202987647 | View |
| 2025-06-30 | Ping Pong Global HoldingsCR: 2397558 (MSO 1) | NAR1 | Annual Return 2025 (Form NAR1 · 10 Pages) | 23402394545 | View |
| 2025-05-29 | Ping Pong Global HoldingsCR: 2397558 (MSO 1) | NR1 | Notice of Change of Registered Office Address (Form NR1) | 22202916658 | View |
| 2025-03-14 | Ping Pong Global HoldingsCR: 2397558 (MSO 1) | ND2B | Notice of Change of Company Secretary and Director Details (Form ND2B) | 24001784099 | View |
| 2025-01-20 | Ping Pong Global HoldingsCR: 2397558 (MSO 1) | NR2 | Notice of Location of Registers and Company Records (Form NR2) | 22402264562 | View |
| 2024-07-02 | Ping Pong Global HoldingsCR: 2397558 (MSO 1) | NAR1 | Annual Return 2024 (Form NAR1 · 10 Pages) | 22502406205 | View |
| 2020-03-12 | PingPong Global TechCR: 2803175 (MSO 2) | NAR1/NR2 | Annual Return 2020 (22702134427) & Consecutive Form NR2 (22702134428) | 22702134427 | View |
| 2019-03-12 | PingPong Global TechCR: 2803175 (MSO 2) | NNC1/CI | Incorporation Form (NNC1: 22501800336), A&A (22501800337) & CI (40014771213) | 22501800336 | View |
Part III: Global 60+ Licence Network & Four-Pillar Product Mapping
Beyond its dual HK Customs MSO licences, PingPong holds over 60 global regulatory licences across the US (FinCEN MSB & State MTLs), Luxembourg (EU EMI), the UK (FCA EMI), Singapore (MAS MPI), Japan, and Australia[4]:
- 1. Marketplace Collection: Multi-currency virtual accounts for Amazon, Walmart, Shopee, and TikTok Shop operated via
Ping Pong Global Holdings Limited(MSO16-11-01963); - 2. PingPong B2B Trade (Fumao): Invoice-verified B2B export collection and supplier payouts supported by the dual-MSO infrastructure (
16-11-01963&21-08-03044); - 3. Virtual Corporate Cards (Tongxing Card): Multi-currency Visa/Mastercard commercial cards for ad spend, SaaS subscriptions, and logistics;
- 4. Commercial Factoring: Marketplace receivables financing structured through co-located HongHu Commercial Factoring Limited (CR
2808284).
Part IV: Frequently Asked Questions (FAQ) on PingPong Hong Kong
Q1: Why does PingPong have two MSO licences in Hong Kong, and what are their numbers?
PingPong operates two separate HK Customs MSO licensees at 12/F, Emperor Group Centre, Wan Chai to segregate clearing pools across product lines: (1) Ping Pong Global Holdings Limited (CR 2397558, BRN 66368496) holds MSO Licence No. 16-11-01963; and (2) PingPong Global Technology Limited (CR 2803175, BRN 70453803) holds MSO Licence No. 21-08-03044.
Q2: What does the January 2026 Form M1 filing (Barcode 22202987647) represent?
The Form M1 and 13-page Charge Instrument filed on 26 January 2026 represent a standard institutional security charge over settlement reserve accounts to support global card-issuing and correspondent bank clearing facilities. Both MSO entities maintain zero winding-up petitions.
Part V: Official Statutory Registries & Verification References
- Hong Kong Companies Registry (ICRIS): Statutory Registers for the 5-Entity Wan Chai Cluster — Ping Pong Global Holdings Limited (CR
2397558, incl. 2026 Form M122202987647, 2025 Form NAR123402394545), PingPong Global Technology Limited (CR2803175), PINGPONG INTELLIGENCE LIMITED (CR2794888), HongHu Commercial Factoring Limited (CR2808284), and PingPong Information Technology Limited (CR3817466). Portal: www.e-services.cr.gov.hk ↗. - Hong Kong Customs and Excise Department (MSSB): Register of Money Service Operators under Cap. 615 — Licence
16-11-01963(PING PONG GLOBAL HOLDINGS LIMITED, Room B, Unit 1206-7) & Licence21-08-03044(PINGPONG GLOBAL TECHNOLOGY LIMITED, Room D, Unit 1206-1207, 12/F, Emperor Group Centre, 288 Hennessy Road, Wan Chai). Directory: HK Customs MSO Register. - 86hc.com Hong Kong Court Litigation & Winding-Up Roll: Judicial verification for
Ping Pong Global Holdings Limited(CR2397558). Portal: 86hc.com Litigation Search. - PingPong Group Global Licensing & Product Disclosures: Official documentation on global licences and product terms. Website: www.pingpongx.com ↗.